Investment intentions plummet to lowest level since 2003
Ottawa, ON -- Business leaders are growing more concerned about their future finances and demand for their products...
Ottawa, ON — Business leaders are growing more concerned about their future finances and demand for their products — factors that are also holding back investment intentions.
The Conference Board of Canada’s Index of Business Confidence fell another 4.8 points in the second quarter of 2008, to 91.5 (2002=100). It was the fourth consecutive decline, and it brought the index to levels not seen since 2003.
The Board says the results are not surprising given that the U.S. slowdown is now having a deeper effect on Canada’s export sectors. Moreover, there are indications the expansion in Canada’s domestic economy will ease from the frenzied pace witnessed over the past half year.
The survey of business confidence was conducted over the last three weeks of June.
For more information, visit www.conferenceboard.ca.